Baytex Energy (TSE:BTE) Sets New 12-Month High at $2.59

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE)’s share price reached a new 52-week high on Monday . The company traded as high as C$2.59 and last traded at C$2.59, with a volume of 6080019 shares traded. The stock had previously closed at C$2.36.

A number of analysts have weighed in on BTE shares. Royal Bank of Canada increased their price objective on Baytex Energy from C$1.80 to C$2.20 and gave the stock a “sector perform” rating in a research report on Monday, June 7th. BMO Capital Markets increased their target price on Baytex Energy from C$1.75 to C$2.75 and gave the stock a “na” rating in a research note on Monday, June 21st. Scotiabank increased their target price on Baytex Energy from C$2.25 to C$2.75 in a research note on Thursday, July 15th. Raymond James reissued an “outperform” rating and set a C$3.50 target price on shares of Baytex Energy in a research note on Friday, September 3rd. Finally, CIBC reissued a “hold” rating and set a C$3.00 target price on shares of Baytex Energy in a research note on Thursday, September 2nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Baytex Energy currently has an average rating of “Hold” and an average price target of C$2.26.

The stock has a market capitalization of C$1.50 billion and a PE ratio of 1.23. The firm has a 50 day moving average of C$2.18 and a two-hundred day moving average of C$1.86. The company has a current ratio of 0.43, a quick ratio of 0.41 and a debt-to-equity ratio of 99.88.

In other Baytex Energy news, Director Mark Bly acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The shares were acquired at an average price of C$2.27 per share, for a total transaction of C$56,760.00. Following the completion of the acquisition, the director now directly owns 378,353 shares of the company’s stock, valued at C$859,012.65. Also, Senior Officer Edward David Lafehr acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, September 9th. The shares were acquired at an average price of C$2.28 per share, for a total transaction of C$34,200.00. Following the acquisition, the insider now directly owns 1,142,561 shares of the company’s stock, valued at C$2,605,039.08. Insiders have acquired 47,000 shares of company stock valued at $106,920 in the last three months.

Baytex Energy Company Profile (TSE:BTE)

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties include the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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